DSIJ Mindshare

Aurobindo Pharma, the Hyderabad-based pharmaceutical company, has completed the acquisition of Apotex’s commercial operations and certain supporting infrastructure in five European countries Poland, Czech Republic, the Netherlands, Spain and Belgium.

The company inaugurated its greenfield facility in Assam. The plant commenced production of high-quality laminated plastic tubes used for packaging FMCG and pharma products.

Going ahead, any slip below the Friday’s session low of 10,925 would increase the likelihood of Nifty testing its 200-day moving average, which currently stands at 10,855 level.  On the upside, it would be crucial for the index to move past the level of 10,950 once again to avoid weakness. Stocks in news: Indusind Bank, Essel Propack, Engineers India, Voltas, Reliance Power, Dr Reddy’s Laboratories, Lupin, Cipla, REC and Prakash Industries.

Indian markets may open flat to negative on Monday as cues from Asian peers are lacklustre, while the Wall Street closed mixed on Friday. The SGX Nifty suggests that Nifty may open around 10,922, down by 24 points. 
  

After taking support near 50-week SMA, the stock bounces sharply and forms bullish engulfing candle on weekly scale, which suggests bulls were in dominant position.